KTR peddling lies on Kaynes Semicon shift to Gujarat, says Minister Sridhar
In a press statement issued here, the minister said the company was lured to Gujarat by massive subsidies offered by the Centre and the BJP-led government in that state.
'Kaynes did not flee Telangana. It was lured by massive subsidies showered in Gujarat by the Centre and BJP state government, something KTR is fully aware of. Yet he chooses to mislead people with false claims,' Sridhar Babu said.
The minister explained that under the Rs 76,000 crore India Semiconductor Mission (ISM), the Centre approved a 50% subsidy for the Kaynes project at Sanand in Gujarat. 'For the proposed investment of Rs 3,307 crore, the central subsidy itself amounted to Rs 1,653.5 crore. In addition, the Gujarat government extended another 40% of the central subsidy, which is about Rs 661 crore taking the total subsidy package to nearly Rs 2,314.9 crore, or 70% of the project cost,' he added.
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